In recent years, the economic ties between Korea and Mercosur countries have declined due to various factors. However, the emergence of market-friendly governments in Brazil and Argentina that put emphasis on reform and accessibility could prove to be the catalyst to reignite stagnant economic relations between Korea and Mercosur. In addition, the announcement of trade agreement negotiations between Korea and Mercosur will likely prove to be a turning point in their cooperation relationship. In this regard, this study was conducted to help forward a breakthrough in mutual cooperation, with a particular focus on business cooperation.